MTA chairman resigns to explore NYC mayoral bid

Updated 9:35 pm, Thursday, December 20, 2012

NEW YORK — Metropolitan Transportation Authority Chairman Joseph Lhota said Wednesday that he is resigning his post to explore running for mayor, a move that comes after he was hailed for getting the nation's biggest mass transit system back on track after Superstorm Sandy.

The Republican, who was a high-level aide to former Mayor Rudy Giuliani, said he will announce next month whether he's entering next year's race to succeed term-limited Mayor Michael Bloomberg. Lhota declined to answer questions about his plans.

Lhota said it was "bittersweet" to give up the MTA post he's held for a little more than a year, and he would have liked to leave it on better financial footing.

His resignation came after the board voted to raise subway, bus and commuter rail fares, along with bridge and tunnel tolls, starting in March, and approved a financial plan that calls for another fare increase in 2015.